James Simons, Renaissance, founder, and mathematician is considered one of the hedge fund industry’s most successful quant trading firms. Indeed, the three portfolios open to outside investors are all up double digits this year, beating the average hedge fund’s 6 percent gain in the first nine months of 2017.
But Simons (personal net worth of 18.5billion USD 2017 Forbes) has had a fall out with his co-chief executive, Robert Mercer.
“We’ve never had a president remotely like our current president…
We’ve had some doozies but never of that caliber”
Mercer has been a long time major backer of conservative causes.
For example, Mercer has a stake in right-wing news outlet Breitbart News. So Mercer is obviously a Trump supporter but Simons is no fan of Trump.
“We’ve never had a president remotely like our current president,” Simons said. “We’ve had some doozies but never of that caliber.”
Simons says he believes the U.S. is resilient and will bounce back from a Trump administration without lasting damage “if we can just get through these four years without an atomic bomb dropped,” said Simons.
Mercer has since resigned as co-chief executive of Renaissance (most likely he was pushed out).
So a growing trend is emerging, American CEOs are quickly distancing themselves from the current Trump administration. Trump’s business councils fall apart after CEO resignations.
“if we can just get through these four years without an atomic bomb dropped”